Sprinklered Warehouse with Overhead
For Sale
$3,950,000
41001 Grand River Ave, Novi, MI 48375
Fully sprinklered warehouse offering 24-foot clear height, five overhead doors, and a 1,000-amp 480-volt power service.
Property Size34,581 SF
Price / SF$114.22
Days on Market119
Property Features for 41001 Grand River Ave
General Information
Standard status
Active
Size
34,581 SF
Property subtype
Industrial
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
24 ft
Heavy Power
Yes
Sprinkler System
Yes
Amenities
cranes available
Building Details
Building Size
34,581 SF
Listing Agency:
Newmark Knight Frank Detroit
Listed By:
Dan Labes
(248) 357-6578
Source:
Cpix.resimplifi
Added: Jun 9
Changed: Sep 12
Last Checked: Oct 5 at 3:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark Knight Frank Detroit
Investment Insights
Based on property information with market context.
This warehouse features a fully sprinklered building with 24-foot clear ceiling height. The facility is serviced by a 1,000-amp, 480-volt power supply and includes five 14’ x 14’ overhead doors. Cranes are available to support material handling needs, and the property provides ample, expandable parking for vehicles and equipment.
The asset is positioned for strong visibility along Grand River Avenue, with convenient access to I-696 and I-96.
With its overhead door count, clear height, power capacity, and sprinkler protection, the space is designed to support a range of warehouse and light industrial operations that benefit from truck access and overhead handling.
The asset is positioned for strong visibility along Grand River Avenue, with convenient access to I-696 and I-96.
With its overhead door count, clear height, power capacity, and sprinkler protection, the space is designed to support a range of warehouse and light industrial operations that benefit from truck access and overhead handling.
Key Highlights
- 24’ clear ceiling height in a fully sprinklered warehouse
- Five 14’ x 14’ overhead doors for loading and access
- 1,000‑amp, 480‑volt power service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,051
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,161,020
$4.2M
Cap Rate 7%
$2,972,157
$3.0M
Cap Rate 9%
$2,311,678
$2.3M
Market Conditions
NOI Build-Up for 34,581 SF
Gross rent
$254.2K $7.35/SF
− Vacancy
−$9.4K −$0.27/SF
EGI
$244.8K $7.08/SF
− OpEx
−$36.7K −$1.06/SF
NOI
$208.1K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,161,020
Cap Rate 7%
$2,972,157
Cap Rate 9%
$2,311,678
Alternative Uses
Best Use
Warehouse
$2.97M
$2.60M – $3.47M
NOI $208,051 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.46M
$6.53M – $8.70M
NOI $522,118 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
24 ft
Clear height
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- CubeSmart Self Storage — 24985 Haggerty Rd, Novi, MI 48375
Frequently Asked Questions
What type of property is this?
Warehouse - Fully sprinklered warehouse offering 24-foot clear height, five overhead doors, and a 1,000-amp 480-volt power service.
Where is this warehouse located?
The property is located at 41001 Grand River Ave Novi, MI.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 24’ clear ceiling height in a fully sprinklered warehouse; Five 14’ x 14’ overhead doors for loading and access; 1,000‑amp, 480‑volt power service
